Press releases
Reff & Associates | Deloitte Legal provided labour law due diligence to Grupo Bimbo in the acquisition of the local leader baker Vel Pitar
28 March 2023
Reff & Associates | Deloitte Legal provided labour law due diligence to Grupo Bimbo, the global leader in the market, in the acquisition of the local leader baker Vel Pitar from the private equity fund NCH Capital, headquartered in US. The transaction, which marks Grupo Bimbo’s entrance on the Romanian market, was closed at the beginning of 2023.
The team of lawyers who worked on the project was made of Florentina Munteanu, Partner, Gabriela Ilie, Senior Managing Associate, and Irina Picos, Senior Associate.
Deloitte Romania has coordinated the acquisition process and has advised Grupo Bimbo throughout the transaction through the corporate finance team, comprising of Radu Dumitrescu, Partner-in-Charge, Florin Paunescu, Director, Angelos Fragkos, Manager, and Ruxandra Vasile, Senior Associate. The transaction services team, comprising of Vlad Balan, Director, Laura Necsuliu, Senior Associate, Andreea Voinea, Senior Associate, and Andrea Artin, Associate, covered the financial due diligence process, while the forensic team, comprising of Burcin Atakan, Partner, Irina Chiriac, Deputy Director, Laura Avram, Senior Associate, Emil-Ioan Borza-Dediu, Senior Associate, and Vasile Beleuta, Senior Associate, ensured the Foreign Corrupt Practices Act (FCPA) pre-acquisition due diligence. The multidisciplinary team also included fiscal experts Dan Badin, Tax Partner, Mihaela Iacob, Senior Manager, Laura Bobar, Senior Manager, Ana Irina Bica, Senior Consultant, and Ioana Siretchi, Senior Consultant, who covered the tax due diligence and tax advisory.
Grupo Bimbo is the largest baking company in the world, with presence in 34 countries located in America, Europe, Asia and Africa. At the end of December 2022, it had an annual market capitalization of USD 19 billion and over 137,000 employees.
Vel Pitar, the leader of the Romanian bakery market, owns ten factories and has roughly 1,800 employees.
Reff & Associates | Deloitte Legal is recognized as a leading law firm in Romania for the quality of services and ability to deliver solutions on complex legal matters. The areas of practice include banking and finance, competition law, employment law, energy and environment law, insolvency law, legal management consulting, litigation, corporate, mergers and acquisitions, public sector, real estate. The firm represents in Romania Deloitte Legal, a global network with more than 2,500 lawyers in more than 80 countries.